11
Jun
08

Decisions, Decisions

I’ve been building my emergency fund slowly, by opening a new 6 month INGDirect CD every pay period. You can open a CD through ING with any dollar value, and you can have as many as you want. It’s useful for me because I can see right there on each account’s page how much that money will be if I let it sit, and how much I will lose if I pull it out early to, oh, you know, go to KoLCon or something (no, I’m not going to Con, because compound interest is sexy OMG).

I’ve been doing this since November, so they’ve started maturing. When each one matures, I’ve been debating what to do with them. I have them all set to close and dump into my savings account when they mature, because the first ones matured when the rate for CDs was like, 2.55%. Ew, no. The rates went up a little last pay period so I opened a 9 month to fill in a gap I had from before, you know, I got srs bout dis bizness.

When I logged on to check my accounts today, there was a little orange link next to the one maturing July 1. Not the one maturing June 14th, though. 😛

The little orange link informed me if I roll over the July 1 CD, it is eligible for a ten point bonus in the interest rate. ING had a rate change today, and now the rates run from 3.3% to 4%.

Except the only one for 4% is the 60-month.

So, with my bonus, I’d get 4.10% on a 60-month or 3.4% on a 6- or 9-month. If I go for the 60-month, it’s got a 12-month interest penalty if it’s pulled out in the next five years.

I’m currently getting 4.7% on that CD, by the way. Ah, the good old days, when interest rates were high and before anyone who wasn’t working at Hell’s Cargo Home Mortgage in 2003 realised that 5-year Adjustable Rate Mortgages are stupid stupid stupid… MAN, I HATED THAT JOB!

*ahem* Where was I? Oh, yes! Monies! Monies are good and shiny and we likes them, precious… Fiddling around with a spreadsheet, it’s all just a guessing game.

For the record, along with pickles, spoiled fish sauce, and Sex and the City, I really hate guessing games.

Advertisements

2 Responses to “Decisions, Decisions”


  1. June 12, 2008 at 2:05 pm

    A 60-month CD for an emergency fund? Seems rather counter-productive. 🙂 I can’t wait for my emergency fund to get to a decent point.


Comments are currently closed.

%d bloggers like this: